City Hall proposed move [4]

Andrew Dismore: What was the income generated by The Crystal for each of the last 4 years?

The Mayor: The income for the last four years has been as follows:
Financial year
2016-17
£600k
2017-18
£1.75m
2018-19
£1.75m
2019-20
£900k
The low income in 2016-17 was because the property was not owned by the GLA until November 2016. The reduction in income in 2019-20 was as a result of the mid-year surrender by Siemens of their lease, under which they paid rent of £1.75 million per annum

City Hall proposed move [3]

Andrew Dismore: In the event of City Hall moving to The Crystal, what is the estimated loss of annual income from lettings at The Crystal?

The Mayor: The annual income that could be secured from letting The Crystal building in its current state to a 3rd party outside of the GLA Group is currently estimated at £1.2 million per annum.